2021–2025 Economic Restructuring Plan: Goals and Targets

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The 2021–2025 period has concluded, but the Socio-Economic Development Plan and the Economic Restructuring Plan for this period remain an important reference framework for understanding the role of enterprises in Vietnam’s economic development. Under Clause 10, Article 4 of the Law on Enterprises 2020 (as amended and supplemented by Law No. 76/2025/QH15, effective from 01/07/2025): “An enterprise is an organization with its own name, assets and transaction office, established or registered for establishment under the law for business purposes.” This article looks back at the role of enterprises in the 2021–2025 plan and orientations that remain valuable for the next period.

1. Enterprises at the center of the 2021–2025 economic restructuring plan

The economic restructuring plan for 2021–2025 (approved by the National Assembly in Resolution No. 31/2021/QH15 dated 12/11/2021) set the overall goal of forming a reasonable, efficient structure in each industry, sector and the economy as a whole; developing national products based on new and high technologies; and creating breakthroughs in the competitiveness of key economic sectors. Within this goal, enterprises are the direct actors implementing technological innovation and improving productivity and competitiveness — the State plays the role of building institutions and improving the investment and business environment.

The specific targets in Article 3 of Resolution No. 31/2021/QH15 are all directly tied to the enterprise sector: average labor productivity growth above 6.5%/year; total factor productivity (TFP) contribution of about 45% of GDP; narrowing the national competitiveness gap with the ASEAN-4 group; and stock market capitalization of at least 85% of GDP. These are measures whose success depends on the participation of the business community.

2. The role of enterprises through the pillars of the 2021–2025 plan

On growth model innovation: enterprises are the main force shifting the growth model from extensive to intensive, based on science, technology and innovation.
On financial market development: enterprises (especially listed and bond-issuing enterprises) are the subjects of the capital market, with the target of bond market outstanding debt of at least 47% of GDP.
On institutional reform: reducing business conditions and reforming administrative procedures directly serve enterprises, reducing compliance costs.
On integration: enterprises are the actors leveraging new-generation FTAs and participating in global value chains.

3. Legal framework supporting enterprises in 2021–2025

For enterprises to fulfill the above role, the 2021–2025 period saw many important support policies: the Law on Supporting Small and Medium Enterprises 2017 continued as the legal framework for support policies on access to credit, tax, land, technology and human resource development; post-pandemic recovery support programs; and the reduction and simplification of business conditions under Government resolutions on improving the investment and business environment. In parallel, the Law on Enterprises 2020 (and the amending Law No. 76/2025/QH15, effective from 01/07/2025) created a more favorable legal corridor for enterprise establishment, governance and restructuring.

4. Looking back after 2025: orientations that remain valuable

After the 2021–2025 period ended, the country entered the next socio-economic development plan period in a new context: the two-level local government model and continued improvement of the legal system on enterprises, investment and tax. Although specific targets of each period may differ, the central role of enterprises in growth, innovation and international integration continues to be inherited and promoted.

For the business community, the lesson from the 2021–2025 period is: proactively improve governance capacity, comply with the law, and invest in technology and human resources — the factors determining adaptability to any changes in policy and markets. Enterprises need to closely follow newly issued legal documents to timely adjust production and business activities accordingly.

Notes on applying current legal provisions

This article is for reference, helping readers understand the legal issue at a general level. The 2021–2025 plan has concluded; policies and incentives tied to each period must be checked against current documents. Where advice on the legal framework applicable to investment and business activities in the current period is needed, you should contact ANT Legal’s lawyers at 0966.475.966 for verification and advice before proceeding.

Common risks to note

Applying policies and incentives of the 2021–2025 period as if they were still in force.
Not updating new legal documents on enterprises, investment and tax after 2025.
Confusion about competent authorities after the implementation of the two-level local government model.

How can ANT Legal help?

ANT Legal helps enterprises review the current legal framework, advises on compliance and builds development strategies aligned with new policy orientations. For quick advice, you may contact our lawyers at 0966.475.966.

Frequently asked questions

In which document was the 2021–2025 economic restructuring plan approved?
Approved by the National Assembly in Resolution No. 31/2021/QH15 dated 12/11/2021, with the overall goal of forming a reasonable, efficient structure and creating breakthroughs in the competitiveness of key economic sectors.

How do the plan’s specific targets relate to the enterprise sector?
Average labor productivity growth above 6.5%/year; TFP contribution of about 45% of GDP; stock market capitalization of at least 85% of GDP; bond market outstanding debt of at least 47% of GDP — these are measures whose success depends on the participation of the business community.

The 2021–2025 plan has concluded — what should enterprises note?
Policies and incentives tied to each period must be checked against current documents and not applied as if still in force; enterprises also need to closely follow new legal documents on enterprises, investment and tax to timely adjust operations.

Legal Knowledge

Goals and Targets of the 2021–2025 Economic Restructuring Plan